Small cap news round-up
Sunrise Resources' shares are up almost 5% as it reported rapid progress by Magmatics in testing of the CS Deposit for the production of natural pozzolan, and was pleased it could move so quickly to certification testing.
"The uniform performance of samples from across the surface of the deposit is very encouraging," said executive chair Patrick Cheetham in a statement.
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Shares in TechFinancials are up a third on confirming it expects to receive a dividend payout of $1.53m from subsidiary DragonFinancials, following on from an earlier payment by that company.
DragonFinancials has declared a final dividend pay-out of $3m, payable by 15 March, for 2016, of which TechFinancial's portion was $1.53m, in line with its 51% stake in that company.
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AIM-listed investor FastForward Innovations is to sell its stake in investee company SatoshiPay, a nanopayments provider, to Blue Star Capital, a technology investment firm, for €500,140.
The company will sell its entire holding in StaoshiPay of 1,471 shares, subject to approval by Blue Star's shareholders at the next general meeting on 20 March.
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Savannah Resources announced on Thursday that, further to its recent cash placing and subscription to raise £2.24m, announced on 22 February, the company's chairman Matthew King and it major shareholder Al Marjan had now subscribed for 19,205,564 new ordinary shares at a price of 5.25p each, raising cash proceeds of £1.01m.
The AIM-traded company said in addition, it granted options over 10,700,000 ordinary shares, and was to issue a further 1,688,870 ordinary shares in the company in relation to employee remuneration.
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AIM-listed pharmaceutical Diurnal has signed a marketing and distribution deal with Israeli healthcare products firm Medison Pharma for its adrenal insufficiency therapies.
The deal will commercialise Diurnal's Infacort and Chronocort products which treat congenital adrenal hyperplasia (CAH) in Israel, which the company sees as a significant market opportunity given the estimated higher prevalence of CAH in the country.
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Home collected credit lender Morses Club updated the marker on its trading for the 52-week period to 25 February on Thursday, ahead of its preliminary results announcement, due on 27 April.
The AIM-traded company said trading performance for the period continued to show strong growth and was in line with the board's expectations.
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Property management, insurance and ancillary services provider HML Holdings announced the acquisition of the block management business of Gordon & Company Property Consultants, the flats and estates property management business of Gordon & Company, on Thursday.
The AIM-traded firm said its southern and western England subsidiary HML Andertons acquired the business and share capital of G&CPCL for an initial purchase price of £1m.
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Science Group's shares are up more than 3% thanks to an improved full-year pre-tax profit and dividend resulting from what it called a "very satisfactory" performance.
Science said revenue rose to £36.9m, from £31.2m, and statutory pre-tax profit improved to £3m, from £2.4m. Its total dividend was 4.2p a share, up from 4p a share.
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First Derivatives announced on Thursday that it has signed a contract with an unnamed Fortune 500 engineering solutions company for the use of its 'Kx' technology within precision manufacturing.
The AIM-traded company said 'Kx' had been selected as the high-performance, time-series data historian and analytics platform in the next version of the client's fault detection product range, expected to be released in mid-2017.
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Gresham House said the UK Financial Conduct Authority has approved the proposed subscription by the Royal County of Berkshire Pension Fund.
Late last month, specialist asset manager Gresham said The Royal Borough of Windsor and Maidenhead, acting as the Administering Authority for The Royal County of Berkshire Pension Fund, intended to become a strategic investor in the company.
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Plexus Holdings' shares are up more than 2% after it was awarded a well order from Nexen Petroleum U.K. Ltd for the Glengorm exploration well in the Central North Sea.
Under the deal terms, Plexus would supply Nexen with its POS-GRIP wellhead and Tersus mudline equipment.
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Shares in Galantas Gold are up more than 1% as it said the the second part of the private placement has closed.
Melquart Ltd subscribed for 5.72m shares and was the only subscriber in the second closing of the placing. The purchase took Melquart's stake to 13% of Galantas' issued capital.
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AIM-listed oil and gas firm 88 Energy is planning to raise up to AU$17m (£10.6m) following the announcement that it will start drilling at its Alaskan site.
The company is to raise up to AU$17m at a price around AU$0.037 (£0.023) per share and pending the equity fundraising its shares have been suspended on the Australian Securities Exchange, while 88 Energy’s shares will continue to trade on AIM.
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Cyber security firm Osirium Technologies’ has expanded into the Asia Pacific with its privileged access management product now available in the region.
The company, which floated on AIM last April, has appointed two business developers in the Asia Pacific as part of its commitment to the region to recruit distributors and associated business partners.
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AIM-listed intellectual property service provider Tekcapital expects a step-up in sales as it launches its sled product, which allows incapacitated people to be moved down stairs at speed in the event of an emergency evacuation, in the European Union.
Medical device company Belluscura, which Tekcapital owns a 65% stake in has launched Slyde, a compact sled for moving people down stairs or over rough ground.
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Base Resources provided preliminary exploration results of the extensional and infill drilling programme completed to date for its Kwale Mineral Sands operations in Kenya on Thursday.
The AIM-traded company said the “strong” drilling results clearly demonstrated the potential to grow resources and mine life to the north and south of existing project reserves.
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Safeland announced on Thursday that Barnet Council’s planning committee had resolved to grant planning consent for the company's application to demolish the existing buildings at 12-18 High Road, East Finchley, London.
The AIM-traded firm said it had plans to construct a new block of 21 flats, comprising eight one-bedroom flats, 12 two-bedroom flats and a three-bedroom flat, together with 265 square meters of office accommodation on the ground floor.